FOG

FOGX01 STG

Limitations and Conditions

Limitations and conditions imposed by law on the ownership of land by or validity or enforceability of rights against a foreign government, or any agency, instrumentality, or person acting for or on its behalf. Comment: The states impose numerous limitations on alien ownership of land.

has expired. A new notice must be filed more than 20 days prior to the entry of the final judgment of foreclosure and sale.

must be filed more than 20 days prior to the entry of the final judgment of foreclosure and sale.

has not been filed as provided in RPAPL § 1331. The judgment of foreclosure and sale is therefore not effective.

is not effective because the defendant was not served within 30 days of the filing of the Notice, as required pursuant to CPLR § 6512. Judgment of Foreclosure and Sale is not effective in the absence of a curative order, provided no party or person has been prejudiced thereby.

Date of sale is the auction date, not the date of delivery of the referee’s deed.

The proofs required are:

(a) proof of the fairness of the transaction (b) the deed contains a non-merger recital regarding the interest of the mortgage (c) a written agreement between the parties is submitted and reviewed, which provides that the release of the mortgagee from personal liability on the debt is consideration, as is the release of any guarantors. Where possible additional consideration flowing to the mortgagor should be considered, and if the mortgage loan is non-recourse, must be provided for. If the grantor is a corporation, all corporation requirements must be raised.

If the applicant has made investigation or inspection which discloses that there are other persons having an interest in the property whose rights are subordinate to the mortgage being foreclosed, such persons should also be named as parties defendant after the search has been amended.

If there are any leases, mortgages or other liens recorded prior to the period covered by this search which are in fact subordinate to the mortgage being foreclosed, by subordination agreement or otherwise, all persons interested in such leases, mortgages or other liens should also be made parties defendant after the search has been amended, all persons interested in such mortgages should also be made parties defendant after the search has been amended.

If there are any mortgages recorded prior to the period covered by this search which have been paid in full, but for which the satisfaction, discharge or release have not been recorded, or if there are any mortgages which have been fully paid which have not been otherwise satisfied of record, all persons interested in such mortgages should also be made parties defendant after the search has been amended.

This certificate does not This certificate does not provide any assurance that any tenant or person coming into possession of the mortgaged premises after the filing of the notice of pendency shall be on constructive notice of the action. The plaintiff should make an investigation as to persons in possession prior to the entry of judgment.

The addresses of parties and the names of corporate officers shown in this certificate were obtained from the record and are not represented to be the present addresses of the parties or the present corporate officers.

The applicant should consider the desirability of naming as parties defendant any obligors on the bond or note secured by the mortgage, or in any extension, assumption or guaranty agreement.

If the United States of America, the State of New York, or a municipality, or any department, agency or instrumentality of any of them, acquires an interest in, or a lien upon, the premises, by assignment or otherwise, even after the filing of the notice of pendency, consideration should be given to the desirability of bringing in the United States of America, the State of New York, or such municipality, or any department, agency or instrumentality of any of them as a party defendant. If the United States of America, the State of New York, or a municipality, or any department, agency or instrumentality of any of them are made parties, the complaint must set forth the reason therefor with particularity. The United States has one year from the date of the sale in which to redeem (or 120 days if pursuant to a federal tax lien). Particular attention should be given to the special requirements of the Federal Deposit Insurance Corporation in connection with mortgages or liens which may be held in the name of a banking or thrift institution in conservatorship or receivership, or in the name of the Resolution Trust Corporation.

The Company should be requested to continue searches to the date of the filing of the notice of pendency, to a date immediately prior to the entry of judgment, and to the date of sale pursuant thereto. In counties where recordings and filings are not promptly made by the clerk or recording officer, it may be advisable to run a search immediately before obtaining the order of reference, in order to ascertain whether any matters have appeared on the record as of a date prior to the date of filing of the notice of pendency, which were not actually on file at the time the notice of pendency was filed.

Upon any continuation, no examination will be made of the notice of pendency or any other papers filed in the action. All parties must be served or must appear or answer within 120 days of the commencement of the case by filing, and the appropriate affidavit of service, notice of appearance or answer must be filed with the court within such period, or the action shall be deemed to be dismissed against such party.

The following should also be made parties defendant in an action to foreclose the mortgage identified herein as “the mortgage to be foreclosed.”

PartiesInterest in Premises and their addresses.

Owner(s) of record by deed dated __/__/__ and recorded on __/__/__ in _________

[Note that a Surrogate’s search should be made in the county where the premises is located to determine if any owner is deceased. If title is in a surviving tenant by the entirety or joint tenant, the certification should read:

Surviving (specify tenancy). Who acquired title together with ______, (who died (in)testate in ________ County on __/__/__, by deed dated __/__/__ and recorded on __/__/__ in _________ .]

[Also note that if the owner of record is deceased, and the Company shows an Estate, the Executor or Administrator is a proper party defendant and any Trustee of a Trusty (whether testamentary or inter vivos) which is in title is a necessary party defendant. The distributees of an intestate decedent are also necessary parties, to cut off their interests (although in many cases a deficiency judgment is not enforceable against a distributee). See Estates Powers and Trusts Law (EPTL) §12-1.1, and consult with Counsel for any questions.]

Obligors on __________.

[Note that this will usually be based on information provided by the applicant - this should be so noted in the report.] addresses.

Holder of subordinate mortgage made by ________ for $_________, dated __/__/__ and recorded on __/__/__ in ___________. addresses.

Judgment creditor pursuant to judgment for $__________, entered __/__/__ in ______ Court under index no. ______, and docketed on __/__/__ in the County Clerk’s office. addresses.

[Note: If the mortgage to be foreclosed is a first mortgage lien on a condominium unit (or one of the specified second mortgages referred to in RPL § 339-z), the Board of Managers of the Condominium should be named and served, to cut off the lien of unpaid common charges.]

Specify all the details known regarding the lien to be cut off. If the lien is not definite, something like “possible New York State Franchise Taxes of ABC Corp., which may be a lien upon the premises” should be adequate.

[Note: RPAPL § 202 requires that where the State of New York or any department, bureau, board, commission, council, officer, agency or instrumentality of the State is made a party defendant, the complaint must provide detailed facts showing the particular nature of the interest or lien.]

Specify all the details known regarding the lien to be cut off. If the lien is not definite, something like “possible New York City Corporate Taxes of ABC Corp., which may be a lien upon the premises” should be adequate.

[Note: RPAPL § 202-a requires that where the City of New York or any department, bureau, board, commission, officer, agency or instrumentality of the City of New York is made a party defendant, the complaint must provide detailed facts showing the particular nature of the interest or lien.] of the State or City (e.g. The New York City Parking Violations Bureau)

Specify all the details known regarding the lien to be cut off. E.g. “parking violation judgments shown on the attached schedule” should be adequate.

[Note: Pleadings naming the United States of America or a department, agency or instrumentality of the USA as a party defendant must set forth with particularity the nature of the interest or lien of the United States with respect to the property.]

[Note: Where the lien of the United States of America is pursuant to a federal tax lien, the complaint must set forth the name and address of the taxpayer, the identity of the IRS office which filed the Notice of Lien, and the date of filing and place of filing of the lien. See 28 USC § 2410 ( b).]

[Note: In all cases where it becomes necessary to name the United States of America as a party defendant, attorneys should consider the provision of sixty days’ time in which to answer, the appropriate method of service, and the applicable redemption period. See 28 USC §§ 2410 and 2412.

Any party who by bond, note, extension agreement or otherwise may be liable for a deficiency judgment, if such deficiency judgment is desired.

Any party in possession of any part of the mortgaged premises whose interest plaintiff desires to bar.